Measurement Specialties amends credit terms for loans with JPMorgan

By Susanna Moon

Chicago, Oct. 16 - Measurement Specialties, Inc. amended its credit agreement last Friday with JPMorgan Chase Bank, NA, as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment extends to March 31, 2016 the exclusion of some capital expenditures related to the new China facility from the calculation of the minimum fixed-charge coverage ratio, or EBITDA less capital expenditures and payments of dividends by divided by fixed charges.

The company amended its private shelf agreement on Oct. 3 with Prudential Insurance Co. of America, which also extends to March 31, 2016 the exclusion of some capital expenditures related to the new China facility from the minimum fixed-charge coverage ratio.

Bank of America, NA, HSBC Bank USA, NA, Branch Banking & Trust Co. and Credit Industriel et Commercial are also lenders under the credit agreement.

Measurement Specialties is a Hampton, Va.-based provider of sensors and sensor-based systems to original equipment manufacturers and end users.

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